India’s invoice discounting platform, TReDS, grew rapidly in 2023 according to figures released by the Reserve Bank of India (RBI). Total bills financed on the platform in 2023 amounted to Rs 1.16 lakh crore representing an increase of 55 per cent for the year as a whole compared with 75,000 crore 2022. What the figures also show is that the rate of growth accelerated especially in the last quarter of 2023. In the month of December 2022 bills financed by the platform reached Rs 7,444 crore, whereas in December 2023 total bills financed by the platform amounted to Rs 13,521 crore - an increase of 82 per cent.
